This book examines the enormous riskiness of transatlantic trade in 18th century Spain and argues that many of the long-condemned commercial practices were vital accommodations to pervasive risk and uncertainty.

The paper deals with maritime risk, which we consider important, no doubt, for ship-owners acting in volatile markets. Traditionally, risk is measured by "standard deviation". Other risk measures like "excess kurtosis", "excess skewness", "long-term dependence" and the "catastrophe propensity"...

The decision making process in strategic shipping financial management consists of three main pillars: investment, financing and operation. Each pillar defines its own sub-universe and constitutes its own market with its own rules. The investment pillar refers to the market for newly built and...